Hudson Pacific Properties

Hudson Pacific Properties, Inc. is a real estate company. It owns, operates, develops and acquires office, media, and entertainment properties. The company operates through two segments: Office Properties and Studio Properties. The Office Properties segment manages office properties located in California and Pacific Northwest. The Studio Properties segment is primarily used for the physical production of media content, such as television programs, feature films, commercials, music videos and photographs. Hudson Pacific Properties was founded by Victor J. Coleman in 2006 and is headquartered in Los Angeles, CA.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Hudson Pacific Properties excels in leasing and sustainability, poised for growth

Hudson Pacific Properties delivered a strong performance in 2022, achieving key milestones in leasing, financial results, and sustainability initiatives. The company's strategic focus on tech-centric markets, tenant diversification, and shareholder returns positions it for future success. While facing challenges related to market dynamics and economic uncertainties, Hudson Pacific Properties remains resilient and proactive in driving growth.
Opportunities for further expansion and value creation exist through leveraging the company's operational strengths, robust leasing pipeline, and commitment to sustainability. By navigating challenges effectively, monitoring market trends, and optimizing asset management strategies, Hudson Pacific Properties can capitalize on emerging opportunities in the real estate sector. The company's performance underscores its potential for sustained growth and market leadership.

Hudson Pacific Properties adapts to challenges, eyes tech growth

Hudson Pacific Properties navigated challenges in Q1 2023, with a focus on de-leveraging and enhancing the balance sheet amidst macroeconomic uncertainties and a studio business slowdown.
Return-to-office announcements from tech giants and the company's presence in tech hubs position it well for future growth opportunities.
While facing challenges such as lease expirations and the impact of the writers' strike, Hudson Pacific Properties is actively addressing these issues to drive long-term success.
Efforts to optimize the leasing pipeline, maintain tenant relationships, and explore asset dispositions reflect a strategic approach to navigating current market conditions.

Hudson Pacific Properties addresses challenges, eyes tech-driven growth opportunities

Hudson Pacific Properties navigated challenges in Q2, focusing on enhancing cost structures, boosting NOI, and improving leasing economics. Despite headwinds, the company sees opportunities in tech-driven markets and potential growth in AI, aiming to strengthen financials through deleveraging and asset sales.

Hudson Pacific Properties excels in office leasing and studio business, eyes growth opportunities

Hudson Pacific Properties reported positive office leasing trends and strong tenant interest, with a focus on deleveraging and balance sheet fortification. The studio business development, financial results, and strategies for compliance with covenants were key highlights. Opportunities for growth in the studio business post-strikes and expansion in New York City were emphasized.
The company demonstrated strengths in office leasing, sustainability efforts, and financial performance, with a competitive advantage in the show-by-show model. Challenges included large tenant move-outs, potential strikes, and maintaining compliance with covenants. Opportunities lie in the studio business growth, market expansion, and operational efficiency strategies.
Analyst questions focused on specific assets, potential strikes, covenant stress testing, and studio business performance, with detailed responses provided. Hudson Pacific Properties positioned itself well for growth opportunities in various markets, emphasizing a disciplined approach to decision-making. The company anticipates full activity in the studio business post-strikes and sees potential for revenue growth.

Hudson Pacific Properties tackles challenges, eyes growth in 2024

Hudson Pacific Properties navigated a challenging 2023 with resilience, signing significant office leases, executing asset sales, and focusing on tech leasing rebound and studio segment growth for 2024.
Despite facing revenue and FFO decreases, the company improved its balance sheet, received ESG accolades, and remains committed to aggressive leasing and balance sheet fortification.
Opportunities lie in capitalizing on tech tenants' return to physical office space, ramping up studio production, and leveraging a strong leasing pipeline for future growth and operational improvement.
Challenges include ongoing impacts of union strikes, delays in studio business, and uncertainties in office occupancy recovery, requiring strategic adaptation to market trends and operational dynamics.

Hudson Pacific Properties reports mixed Q1 results amid leasing strength

Hudson Pacific Properties navigated mixed financial results in Q1 2024, with strong office leasing activity but challenges in the studio business and competitive rent structures.
The company's modern portfolio and sustainability efforts position it well for growth, while uncertainties around strikes and occupancy delays require strategic evaluation.
Exploration of asset sales, recapitalization, and studio business strategies present opportunities for optimizing performance and revenue diversification.
Overall, Hudson Pacific Properties faces a dynamic market landscape with both strengths to leverage and challenges to address in pursuit of sustained growth.

Hudson Pacific Properties (HPP) reports solid Q2 results amidst studio challenges

HPP's Q2 performance was solid, with a focus on leasing activity and balance sheet strength. Challenges in studios and concerns about potential recession impacts were discussed. The company is eyeing opportunities for growth and cost efficiencies.

Hudson Pacific Properties reports strong Q3 performance and strategic growth

Hudson Pacific Properties (HPP) showcases strong performance in leasing and financial metrics in Q3 2024, supported by positive office-related indicators and studio segment developments.
While facing challenges in optimizing lease percentages and managing debt levels, HPP's capital recycling efforts and robust leasing pipeline offer opportunities for growth and balance sheet strengthening.
Overall, HPP's Q3 earnings call highlights a solid operational performance, strategic initiatives for deleveraging, and promising opportunities in both office and studio segments.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Hudson Pacific Properties, Inc. is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments. The Office Properties segment manages office properties located in California and the Pacific Northwest. The Studio Properties segment is primarily used for the physical production of media content, such as television programs, feature films, commercials, music videos and photographs. The company was founded by Victor J. Coleman in 2006 and is headquartered in Los Angeles, CA.

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) (the “Company”), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that its Board of Directors has declared a dividend for the fourth quarter of 2023 on its 4.750% Series C cumulative preferred stock of $0.296875 per share, equivalent to an annual rate of $1.18750 per share, which will be paid on December 28, 2023 to preferred stockholders of record on December 18, 2023. Abo.

Hudson Pacific Properties Declares Fourth Quarter 2023 Preferred Stock Dividend

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that Michael Nash has been appointed to the company's Board of Directors effective January 1, 2024. Nash will succeed outgoing board member Richard “Rocky” Fried, who will retire from the company's Board at the end of the year. Nash is the Co-Founder and Chairman of Blackstone Real Estate Debt Strategies. He is a member of t.

Hudson Pacific Appoints Michael Nash to Board of Directors

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, announced that it has been recognized again as a leader in sustainability by key industry organizations and ranking systems including the GRESB Real Estate Assessment, Nareit Leader in the Light Awards, ENERGY STAR Partner of the Year Awards, Newsweek's America's Most Responsible Companies and S&P Global Sustainability Yearbook. Hudson.

Hudson Pacific Reaffirms Leadership in Sustainability with Industry-Wide Recognitions

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, announced today that it has divested through two separate transactions a land parcel in Silicon Valley and certain tranches of a loan secured by its Hollywood Media Portfolio for gross proceeds of $189.3 million before prorations and closing costs. Specifically, these sales included: Cloud 10, a 5.3-acre land parcel in North San Jose, for $.

Hudson Pacific Raises $189 Million from Silicon Valley Land and Studio Debt Sales

Alexandria Real Estate Equities

Boston Properties

Kilroy Realty

Vornado Realty Trust

U.S. bonds have been reflecting growing unease about a wall of debt coming due for select owners of office buildings.

Bond market reflects jitters about wall of maturing office REIT debt

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced that Robert “Chip” Harris II has been appointed to the company's Board of Directors effective November 8, 2023. Harris succeeds outgoing board member Karen Brodkin. Harris previously served as Chairman of Acacia Research Corporation, a publicly listed company focused on acquiring and operating industrial, healthcare, energy.

Hudson Pacific Appoints Robert Harris to Board of Directors

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, announced today the successful refinancing of the loan secured by Bentall Centre, a 1.5 million-square-foot office property located in Vancouver, British Columbia and owned in partnership with Blackstone. Upon the closing of this refinancing, Hudson Pacific has no debt maturities until December 2024. The new $454.8 million mortgage loan amo.

Hudson Pacific Completes $455 Million Bentall Centre Loan Refinancing

Hudson Pacific Properties, Inc. (NYSE:HPP ) Q3 2023 Earnings Conference Call November 2, 2023 12:00 PM ET Company Participants Laura Campbell - EVP, IR & Marketing Victor Coleman - CEO and Chairman Mark Lammas - President Harout Diramerian - CFO Arthur Suazo - EVP, Leasing Conference Call Participants Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Michael Griffin - Citigroup Inc. Caitlin Burrows - Goldman Sachs Blaine Heck - Wells Fargo Securities Rich Anderson - Wedbush Ronald Kamdem - Morgan Stanley Thomas Catherwood - BTIG Dylan Burzinski - Green Street Advisors Operator Good morning, and welcome to the Hudson Pacific Properties Third Quarter 2023 Conference Call. [Operator Instructions] Please note, this event is being recorded.

Hudson Pacific Properties, Inc. (HPP) Q3 2023 Earnings Call Transcript

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) (the "Company," "Hudson Pacific," or "HPP"), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants, today announced financial results for the third quarter 2023. "Our leasing activity accelerated once again in the third quarter and while the timeline for tenant decision making remains extended, we've seen a continued uptick in tours and inquiries at our assets into the fourth quarter as.

Hudson Pacific Properties Reports Third Quarter 2023 Financial Results

I'm out of Hudson's Series C preferreds after a close to 1-year hold.

Hudson Pacific Properties: I'm Out Of The Preferreds On Strike Worst-Case Scenario

Hudson Pacific Properties, Inc.'s valuation and dividend metrics are alluring. However, a deeper analysis identified a few red flags. The office segment, which generates approximately 84.5% of the company's revenues, faces challenges due to weak office occupancy and the rise of remote work. Hudson Pacific's pivot into a studio business model may provide diversified returns, but reallocating capital is challenging as most of the acquired units require redevelopment.

Hudson Pacific Properties: Don't Get Lured In

Brandywine Realty

Braemar Hotels & Resorts Inc

City Office REIT

Orion Office REIT

Office Properties Income Trust

Piedmont Office Realty Trust

Park Hotels & Resorts

Service Properties Trust

Sharply higher long-term borrowing costs for real estate during late summer have been a huge headwind for REIT operations and investment valuations. The demand for commercial real estate, especially office space, is being questioned with the appearance of stay-at-home living/work trends. However, things change. A slower economy into 2024 could reverse interest rates lower and pinpoint a bottom in REIT pessimism.

9 REITs Blown Apart, Holding Serious 2024 Rebound Potential

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries, today announced it will release third quarter financial results after the market closes on Wednesday, November 1, 2023. The company will hold a conference call to discuss the results at 9:00 a.m. PT / 12:00 p.m. ET on Thursday, November 2, 2023. To.

Hudson Pacific Properties Announces Dates for Third Quarter Earnings Release and Conference Call

AMC Entertainment

Carvana

National Beverage

Lucid Group

Planet Fitness

Plug Power

While it's unclear whether the market is on the precipice of another sell-off, now may be the time to clear out any strong sell stocks from your portfolio. Even as it may seem like investors have absorbed the impact of high inflation, high interest rates, and the possibility of a 2024 recession, that may not necessarily be the case.

7 Strong Sell Stocks Ready to Take a Deep Dive

Agree Realty

Brixmor Property Group

Equity LifeStyle Properties

Franklin Street Properties Corp.

Invesco KBW Premium Yield Equity REIT ETF

Mid-America Apartment Communities

Medical Properties Trust

National Retail Properties

Realty Income Corp

Prologis

Rexford Industrial Realty

Sun Communities

Terreno Realty

Vanguard Real Estate ETF

Wheeler Real Estate Investment Trust

W. P. Carey

Many high-quality equity REITs are trading at substantial discounts on price-to-NAV ratios. REITs with good management teams should be able to gain a premium to NAV, but very few are achieving this currently. The amount of new apartment construction poses a risk, but some REITs are trading at unusually cheap price-to-NAV ratios.

6 Stellar REITs At Big Discounts To NAV

AvalonBay Communities

Brookfield Asset Management

Brookfield Corp

Blackstone Group

Camden Property

Cousins Properties

Douglas Emmett

Equity Residential

Independence Realty Trust

NexPoint Residential Trust

SL Green Realty

SPDR S&P 500 ETF Trust

Commercial real estate market is just beginning to experience the pain of the correction, according to billionaire investor Jeff Greene. Office buildings are expected to be the hardest hit, with declining leasing volume and potential defaults on loans. Retail, industrial, and residential real estate are expected to fare better, with little risk of oversupply and high occupancy rates.

Billionaire Commercial Real Estate Investor Says 'The Worst Is Yet To Come'

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries, today announced that Chairman and CEO Victor Coleman and other members of the company's senior management will participate in a roundtable discussion at BofA Securities 2023 Global Real Estate Conference on Wednesday, September 13, 2022 at 11:05 a.m.

Hudson Pacific Properties to Participate in BofA Securities 2023 Global Real Estate Conference

American Homes 4 Rent

Industrial Logistics Properties

Some REITs are good, some are bad, and most face challenges from rising interest rates. Good REITs have traits that lead to solid long-term returns, such as consistent revenue growth and the ability to funnel that growth into AFFO per share. Specific REITs mentioned include Hudson Pacific Properties, Terreno Realty, American Homes 4 Rent, Mid-America Apartment Communities, and Industrial Logistics Properties Trust.

5 REITs: Mixing Good And Bad

Vornado Realty Trust VNO, +5.54%, Hudson Pacific Properties HPP, +5.19% and Blackstone Inc. BX, +1.22% said Tuesday they plan to spend $350 million to build a TV and film production studio on Manhattan's Pier 94 on the Hudson River at 52nd Street in a public-private partnership with New York City's economic development arm. The developers billed the project as Manhattan's first public-private partnership venture to build a purpose-built studio campus.

Vornado, Hudson Pacific and Blackstone to build $350M TV and film production studio on Manhattan's Pier 94

NEW YORK & LOS ANGELES--(BUSINESS WIRE)--Today, Vornado Realty Trust (NYSE: VNO), Hudson Pacific Properties (NYSE: HPP), Blackstone (NYSE: BX), the City of New York, and New York City Economic Development Corporation (NYCEDC) announced they have entered into Manhattan's first public-private partnership venture to build a purpose-built studio campus at Pier 94. Vornado, who contributed its long-term leasehold for Pier 94 to the venture, will own 49.9%; Hudson Pacific will own 25.6%; and Blacksto.

Vornado Realty Trust, Hudson Pacific, Blackstone, and New York City Economic Development Corporation to Create Public-Private Partnership and First Purpose-Built Studio Campus in Manhattan at Pier 94

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, announced today that it has divested through separate transactions two Los Angeles office properties, 604 Arizona and 3401 Exposition, for aggregate gross proceeds of $72.5 million before prorations and closing costs. Combined, the two transactions will result in approximately a $22 million gain to be recognized in the third quarter. The co.

Hudson Pacific Raises $72 Million with Sale of Two Los Angeles Office Properties

Hudson recently cut the quarterly dividend to common shareholders by 50%, creating a current yield of 8.4%. The new dividend is 192% covered by fiscal 2023 second quarter funds from operations. An end to the tech job recession and renewed economic growth in the San Francisco Bay Area should help lift office demand going into 2024.

Hudson Pacific Properties: Safe 8.4% Yield, The Bearish Thesis Is Tired

Arbor Realty Trust

Easterly Government Properties

Global Net Lease

Paramount Group

With hopes for lower interest rates and normalizing economic conditions, real estate investment trusts (REITs) have been moving higher. However, as macro uncertainties mount, there are now plenty of REITs to avoid in August.

7 REITs to Sell in August Before They Crash and Burn

Hudson Pacific Properties, Inc. (NYSE:HPP ) Q2 2023 Earnings Conference Call August 2, 2023 12:00 PM ET Company Participants Laura Campbell - EVP, IR & Marketing Victor Coleman - CEO and Chairman Mark Lammas - President Harout Diramerian - CFO Jeff Stotland - EVP, Global Studios Art Suazo - EVP, Leasing Conference Call Participants Alexander Goldfarb - Piper Sandler Blaine Heck - Wells Fargo Nick Yulico - Scotiabank Michael Griffin - Citi John Kim - BMO Capital Markets Julien Blouin - Goldman Sachs Camille Bonnel - Bank of America Merrill Lynch Dylan Burzinski - Green Street Ronald Kamdem - Morgan Stanley Operator Good morning, and welcome to the Hudson Pacific Properties Second Quarter 2020 Conference Call. All participants will be in listen-only mode.

Hudson Pacific Properties, Inc. (HPP) Q2 2023 Earnings Call Transcript

Real estate investing isn't only for millionaires — retail investors can get a shot at investing in major commercial real estate endeavors by investing in REITs. Specialty REITs help investors refine their investment preferences by capitalizing on tenant returns tied to specific industries.

5 Best Office REITs to Buy Now

News for Hudson Pacific Properties Stock (HPP)